Wednesday, January 20, 2010

Tuesday Review

Well the market held onto long setup yesterday, but who expected that kind of upward momentum yesterday, be honest?

The market has become complety decoupled with the equity markets now, just look at what the Euro and USD did yesterday, not a healthy market in my opinion. To have an up trend day in the face of that completely threw me off. After I got stopped out of my first short trade of the day I had to just walk away. I was going long on Friday, when should have been riding the trend short. I was going short yesterday, when I should have been riding the trend long. I am a much better rotational day trader, as I like to fade overextended moves. But on trend days that strategy will only get you run over. I have to work on first recognizing potential trend days earlier and learning to work with them and not against!